Tsai Capital Corp Decreases Stock Position in QXO, Inc. $QXO

Tsai Capital Corp reduced its position in QXO, Inc. (NYSE:QXO) by 3.0% in the second quarter, HoldingsChannel.com reports. The firm owned 1,211,741 shares of the company’s stock after selling 37,994 shares during the period. QXO accounts for approximately 19.1% of Tsai Capital Corp’s investment portfolio, making the stock its biggest holding. Tsai Capital Corp’s holdings in QXO were worth $26,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of QXO. Farther Finance Advisors LLC purchased a new position in shares of QXO during the 2nd quarter valued at $25,000. American Capital Advisory LLC lifted its holdings in QXO by 258.0% in the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after purchasing an additional 841 shares in the last quarter. Allworth Financial LP raised its position in shares of QXO by 1,740.9% during the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after buying an additional 1,149 shares during the last quarter. CWM LLC bought a new position in shares of QXO during the first quarter worth $27,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in QXO during the second quarter valued at $28,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Stock Up 2.5%

Shares of QXO opened at $18.72 on Friday. The company has a quick ratio of 2.15, a current ratio of 3.00 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $18.36 and a 200 day moving average of $19.55. The company has a market cap of $12.62 billion, a PE ratio of -89.14, a P/E/G ratio of 2.58 and a beta of 2.26. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $24.69.

QXO (NYSE:QXO) last announced its earnings results on Thursday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. The company’s quarterly revenue was up 20726.7% on a year-over-year basis. On average, sell-side analysts expect that QXO, Inc. will post -0.13 EPS for the current year.

Analysts Set New Price Targets

QXO has been the topic of several research analyst reports. Morgan Stanley began coverage on shares of QXO in a research note on Tuesday, September 2nd. They issued an “overweight” rating and a $35.00 price target on the stock. Truist Financial dropped their price target on QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Vertical Research started coverage on QXO in a report on Tuesday, October 21st. They set a “buy” rating and a $30.00 price target for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of QXO in a research note on Wednesday, November 19th. Finally, Stephens initiated coverage on QXO in a research report on Wednesday, August 13th. They set an “overweight” rating and a $29.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.85.

QXO Company Profile

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.